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20. Which one is an incorrect explanation for zero-coupon bond? A) It indicates a bond never paying coupon. B) It would be a bond with the highest interest rate risk, all other things being equal. C) It indicates a bond with the interest rate required in the market of 0%. D) no answer 21. Which bond would you generally expect to have the highest yield? A) Treasury bond by U.S. government B) Premium bond in the market C) Long-term, high-quality bond D) Long-term, junk bond 22. The bond's YTM(Yield-to-Maturity): A) equals both the current yield and the coupon rate for a "Par bond". B) is expected to be realized any time a bond is sold. C) will exceed the coupon rate if the bond is selling as a "Premium bond". D) equals the current yield for all bonds with annual-coupon payment